|
|
|
|
|
Pharmaceutical Intelligence - Avoiding Pitfalls for the Client
I have to say that this is not because I have a neat Crystal Ball but because my husband is in the competitive intelligence and communication business, (do a search for Political Intelligence on Google and he is usually 3 or 4 on the first page.) This means I sneek a peep at breaking news from Capitol Hill, the FDA and PhRMA usually before the pharmaceutical companies themselves. Political Intelligence can make or break a Big Pharma company and they invest millions in developing intelligence networks,or subscribing to the like of iJet shown here. Likewise unless vendors are ready, Big Pharma will change direction, changes that can leave them overstaffed and holding the Baby. The expensive Baby. The decision making process on Capitol Hill tends to signal intentions quietly long before the decisions are made public. I must admit I quiz him on where our industry is going daily. The changes that will come down the pipeline after next January, when the new Administration takes power are slated to be nothing less than Draconian. Already FDA officials are seeing the writing on the wall and starting to become aggressive. They are coming to the end of 8 years of Bush pro-Big Pharma and fear for their own jobs. Remember both Clinton and Obama are Lawyers, with Universal Healthcare Agendas. They will go for mega damages for marketing and product infringements to weaken opposition to their plans. They already have Big Pharma in their sights. The questions we should be asking is "Where will the industry be in a year's time, and how can we be prepared to meet that challenge?" Investors are already looking at management teams and asking that same question. Oh, I forgot it's the Hedge Funds and Investment Funds who pay the most for Pharmaceutical Intelligence. They want to sell their companies before buyers realize changes are imminent. Political Intelligence for Pharmaceutical Marketing
Already the FDA is awakening from it's slumbers and the easy going nature of regulation is being tightened up. Through my husband's political intelligence activities in Washington, DC I have always been ahead of the curve for our meeting compliance, and surprised clients by having changes identified and ready before restrictions are handed down. (Do a search on Google for Political Intelligence, Alan is usually no. 3.) As a manager of meeting planning it is essential to know what can, or can't be done for the client, despite the screams and phone calls to VP's by irate DM's and Doctors. Next year they could be fined. In the past nobody was watching, today the Agencies are seeking a list of scapegoats. The marketing plans of the whole pharmaceutical industry face an uncertain future, if Senator Obama, or Senator Clinton move into the White House, together with what appears to be an overwhelming Democratic Congress. The mood within Washington, DC is that there needs to be a complete overhaul of the way we price essential pharmaceutical products, and how the industry interfaces with Doctors. It's hard to get candidates to be specific, but staffers are looking at the cozy relationship between vendors, Drug reps and medical personnel. These plans should be taken seriously, as I found out from Hillary at a Senate event recently. The same with the people on the Obama team. ( I had to grip my lip around Hillary, but remembered the old saying "Keep your friends close, and your enemy's closer! Sorry my photograph. ") PhRMA Guidelines
PhRMA is the pharmaceutical industry's creation, and has developed voluntary guidelines for meetings. This is self policing by the industry to deflect mandated rules following many well publicized excesses. We tend to quote The PhRMA Guidelines as if they were written in stone, but in reality they can change overnight, at the whim of Washington Politicians. The FDA is the Government Agency with all the force of law and regulation that entails. It can mandate policies, restrictions, procedures, and even pull products off the market place. Washington Bureaucrats, and I was one for many years, are experts on feeling "Which way the Wind Blows" and rest assured they will begin a crackdown as the Democrats seem like winning the White House and Congress, with their Universal Health Care plans. Start looking at your checks and balances to ensure you don't fall foul of the national, and local regulations. You can't always rely on Barbie, the new Drug Rep to ask for the correct venue, and stay within prescribed guidelines.
|
Over the years I have managed to be ahead of the curve with breaking news on Pharma Marketing. It's nice to know what PhRMA will tell the Reps before they tell them, and prepare accordingly.
Many Pharma Execs have asked about being held liable for exceeding the limitations for paying for entertainment for Doctors, and where can up to date information be found. It is essential to have a constantly updated source, with their ear to the ground. The result of being unaware, or ignoring Political Intelligence about meetings and marketing policies, from Washington, DC, and the 50 State Capitals could result in multi million dollar fines in the future for Pharma marketing, sales, even meeting planners connected with the Pharmaceutical Industry.
Many planners are confused on the regulation of the pharmaceutical meeting industry, and the role of PhRMA. Anyone who does not understand the complex structure of Washington, DC can easily be confused by the role of organizations like PhRMA, and the FDA for that matter.